By focusing on a digital transformation strategy, your company will stay ahead of the growing trends and digital changes that are rapidly occurring.
Yet, there are a lot of technologies and strategies that are used, but there is probably one most companies, especially in B2B, are still overlooking.
Below we’ll explore how we define the digital transformation and the key piece to your digital transformation strategy that is probably missing.
What is the digital transformation?
You’ve probably heard the term digital transformation in some context as it’s been highly talked about over the last few years.
You might also think of it as a trending term, but it’s honestly not going away and it’s certainly more than a trend.
We live in a digital age and as technologies and strategies continue to evolve, businesses especially need to understand digital transformation, what’s involved, and the strategies and technologies that will play a huge role in future business success.
There are also quite a few various definitions of what digital transformation is, so we’ll share how we view it.
Digital transformation is how an organization delivers value to customers by disrupting standard business practices, rethinking how technology is used, and what will accelerate the company into the digital era for the greater good.
It’s understanding how technologies and digital strategies will make the business more effective overall.
But besides technology, digital transformation also includes the company culture and the business processes.
Digital transformation strategy
For most businesses, having a digital transformation strategy is important to take the company to the next level. And it’s not something we do once, implement, and then forget it.
Adapting to the digital transformation is on-going and the speed at which advances are made means your organization’s strategy needs to be reviewed and adjusted as need.
While technologies do play an important role in the strategies, the core focus needs to be on the organization and is focused on the needs of your customers.
Additionally, for each company, a digital transformation strategy might be somewhat different from the next as far as priorities go, but there are some commonalities too.
In order for a good digital transformation strategy to work, your company needs to:
- Be open to change and testing new digital ideas
- Hire and organize the best talent who values the digital era
- Build products and services with a customer-centric approach (Ask the customers questions)
- Any digital transformation strategy starts with the company culture
- Go beyond what your competitors are doing and look outside of your industry for innovative ideas
When your company focuses on a digital transformation strategy, it’s important to know this is a long-game approach. Results may come quick, but you shouldn’t view this as a sprint to the finish line.
Digital transformation examples
Below are two digital transformation examples which both companies have various degrees to their digital strategy and how they approached a transformation. There are of course a ton more examples in B2B and B2C out there.
Dell – The computer company took on different ideas and strategies to keep the brand ahead of the digital curve. The company was one of the earliest to market with sentiment analysis and social media monitoring technology, for instance. Yet, they also built a culture that employees stand behind, which allowed them to push for becoming a complete social business.
Related: Learn how Dell activated over 10,000 employees on social media through employee advocacy software as part of their digital transformation strategy.
IBM – A well-known and recognizable brand, IBM has made some of the biggest digital changes in the last few years. Altering the company to find new success, all thanks to their digital transformation strategy and mindset.
By overhauling the culture and the need for new digital concepts, IBM now focuses on products and services related to cloud computing, artificial intelligence, natural language processing (IBM Watson), blockchain and more.
What’s missing from your digital transformation strategy?
I’ve mentioned in the beginning that digital transformation strategies, products/services, and technologies used can vary pending company, industry, etc.
Yet, there are still overlapping strategies and technologies used that many companies will need to implement and be a part of, or they will miss out on some serious benefits.
Example of a growing popular strategy and technology is adopting chatbots in some form on your company website.
It is revolutionizing marketing, sales, and how customers interact with your brand.
But there is one other that is often overlooked or not made a priority, yet can make a huge impact on company results and growth: Becoming a social business by enabling employees to actively share and engage on social media.
Known as employee advocacy, it is becoming a crucial piece to various industries digital transformation strategy.
Why social media?
Social media has absolutely been a part of the digital transformation revolution over the last few years, but now more than ever.
Previously, social networks were a place to show off your brand and build a following.
However, it’s now more crucial because it’s where customers are, engaging with your industry, look for information, and more.
No longer is growing your following account a priority or should be. And these platforms are not going away and still continue to grow.
Most companies have social handles, engage online, and maybe even have a few executives sharing. But to keep up with the digital age, it’s not enough.
Here’s why social media should be a forefront of your digital transformation strategy:
- Close to half the world’s population (3.03 billion people) are on some type of social media. (Source)
- 88% of 18- to 29-year-olds indicated that they use any form of social media, 78% among those ages 30 to 49, to 64% among those ages 50 to 64. (Source)
- 67% of consumers surveyed say they are likely to purchase an item or service they see on their social feeds. (Source)
Under the digital transformation examples from above, I included Dell.
Besides other digital advances, the company was also a leader in adopting a social employee advocacy mindset and getting employees to drive conversations online.
This continues to drive sales, brand visibility, employee engagement, and more for the tech company.
And now others are currently catching on, yet many are behind.
They either do not see the value, lack a digital company culture, or still are extremely concerned with allowing employees to be socially active.
So why employees?
- 98% of employees use at least one social media site for personal use, of which 50% are already posting about their company. (Source)
- 76% of individuals surveyed say that they’re more likely to trust content shared by “normal” people than content shared by brands or advertising.
- Brand messages reached 561% further when shared by employees vs the same messages shared via official brand social channels. (Source)
- When a lead is generated through social selling or employee advocacy that lead is 7X more likely to close compared to other lead gen tactics. (Source)
Of course, that is only scratching the surface. If you need more statistics related to employees being active on social media, this post is for you.
Besides the strategy, having the best piece of technology in place to accomplish this is important.
An employee advocacy software helps organize in everything in one location, allows employees to easily share, collab, communicate, see reporting, and much more.
Digital transformation is continuing to grow and is important for companies of all industries to take seriously.
It can make all the difference in the success and growth of businesses.
While there are various strategies, technologies, and product/services pivots your company can make, there are also standard practices that could leave you in the dust if you do not adapt.
Hopefully, the above helped you understand why a digital transformation strategy is necessary, some examples, and the one key piece that is probably missing from yours currently.
Has your company thought about what it means to be a social business and the impact employees have online for the brand? Learn how this strategy and technology can play a major role in your digital transformation strategy.